News - Market Insights

Barrick Gold shares surged to their highest closing price in more than seven years, leading gains in precious-metals miners after Warren Buffett’s Berkshire Hathaway added the company to its portfolio (reports Bloomberg).

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Northern Star Resources has flagged a 30% increase in production over the next two years and a 10% reduction in costs, not yet including its 50% stake in Kalgoorlie Consolidated Gold Mines (reports MiningNews).

Northern Star Resources has flagged a 30% increase in production over the next two years and a 10% reduction in costs, not yet including its 50% stake in Kalgoorlie Consolidated Gold Mines (reports MiningNews). The company has set FY21 production guidance, excluding KCGM's Super Pit, at 720,000-820,000 ounces of gold, compared to about 785,000oz in FY20.

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In early August, renowned company maker Ray Shorrocks joined the board of Alicanto Minerals (reports Stockhead).

In early August, renowned company maker Ray Shorrocks joined the board of Alicanto Minerals (reports Stockhead). People are already calling this copper-gold explorer ‘Auteco Mark 2’ or ‘Bellevue Mark 3’. In 2016, tiny explorer Bellevue Gold (ASX:BGL) — then Draig Resources — acquired Bellevue, a historic WA gold project that was very much viewed as ‘old and tired’.

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Sunstone Metals is to pick up more exploration ground in Ecuador and has noted the notional value of its stake in Stockholm-listed Copperstone Resources AB as being A$22.5 million (reports MiningNews).

Sunstone Metals is to pick up more exploration ground in Ecuador and has noted the notional value of its stake in Stockholm-listed Copperstone Resources AB as being A$22.5 million (reports MiningNews). Sunstone has the stake following its divestment of assets in Sweden, with the shares coming out of escrow next month - "after which Sunstone has greater flexibility in monetising this investment, if required".

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Silver prices hit a seven-year high of $US29/oz ($40.32/oz) this week, as investors rediscover its safe haven status as a hedge against the current economic storm (reports Stockhead).

Silver prices hit a seven-year high of $US29/oz ($40.32/oz) this week, as investors rediscover its safe haven status as a hedge against the current economic storm (reports Stockhead). The last time silver reached these levels was back in February 2013. Demand for physical silver is running hot as latest figures from the Perth Mint show.

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Kin Mining’s phase three drilling at its flagship 945,000 ounce Cardinia gold project, near Leonora, Western Australia, has delivered additional significant intercepts outside current resources

Kin Mining’s phase three drilling at its flagship 945,000 ounce Cardinia gold project, near Leonora, Western Australia, has delivered additional significant intercepts outside current resources, with a focus on a shallow gold zone emerging at the small Hobby deposit (reports MiningNews). Assays from 24 additional RC holes are in, with 15 holes at Hobby returning hits such as 2m at 5.64 grams per tonne from 17m, 6m at 2.41gpt from 22m and 5m at 3.71gpt from 74m, all from outside the inferred resource of 100,000t at 2.1gpt for 8000oz.

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Anglo Australian Resources has extended the Mandilla gold discovery at depth with drilling unearthing broad mineralised intersections, and 34 instances of visible gold within four holes (reports Small Caps).

Anglo Australian Resources has extended the Mandilla gold discovery at depth with drilling unearthing broad mineralised intersections, and 34 instances of visible gold within four holes (reports Small Caps). A highlight intersection was in hole MDRCD191 at Mandilla East which returned 76.5m at 1.21 grams per tonne gold from 296m. The hole was initially planned to a 300m depth, but after visible gold was observed in the core, the hole was extended – resulting in the discovery of wide mineralised zones.

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Saracen Mineral Holdings is capitalising on the strong gold price to invest further in its Western Australian operations (reports MiningNews).

Saracen Mineral Holdings is capitalising on the strong gold price to invest further in its Western Australian operations (reports MiningNews). The ASX 100 gold miner gave an update on its Carosue Dam and Thunderbox operations, with guidance and resources and reserves for its 50% stake in the Super Pit to follow in early September. Saracen reported record reserves for Carosue Dam and Thunderbox of 3.7 million ounces, close to the five-year target of 4Moz set in 2018.

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